GE Vernova (NYSE:GEV) Trading 4.5% Higher – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s share price traded up 4.5% during mid-day trading on Thursday . The stock traded as high as $639.14 and last traded at $628.84. 3,690,432 shares traded hands during trading, an increase of 9% from the average session volume of 3,374,578 shares. The stock had previously closed at $601.97.

Analysts Set New Price Targets

A number of equities research analysts have commented on GEV shares. HSBC increased their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Susquehanna lifted their price objective on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Redburn Partners set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Royal Bank Of Canada raised their price target on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Finally, Glj Research lifted their price target on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $616.08.

GE Vernova Price Performance

The stock has a market cap of $171.12 billion, a price-to-earnings ratio of 102.72, a price-to-earnings-growth ratio of 4.68 and a beta of 1.71. The firm’s 50-day moving average is $590.63 and its 200 day moving average is $574.73.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 16.29%.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently bought and sold shares of GEV. Allworth Financial LP grew its holdings in GE Vernova by 21.2% during the 3rd quarter. Allworth Financial LP now owns 8,425 shares of the company’s stock valued at $5,181,000 after purchasing an additional 1,476 shares in the last quarter. CMC Financial Group acquired a new stake in GE Vernova in the third quarter valued at $311,000. Groupama Asset Managment grew its holdings in GE Vernova by 9.6% during the 3rd quarter. Groupama Asset Managment now owns 119,019 shares of the company’s stock worth $73,185,000 after acquiring an additional 10,392 shares in the last quarter. Cambria Investment Management L.P. acquired a new stake in shares of GE Vernova in the 3rd quarter valued at about $211,000. Finally, Strategic Advocates LLC bought a new position in shares of GE Vernova during the third quarter worth about $52,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.